The latest Wall Street Journal's Forecasting Survey is out, and the participating economists largely share the White House's expectations for job growth in 2010. They see a very small drop in unemployment numbers--predicting, on average, the jobless rate to be at 9.4% by the end of the year. They also expect that a lot of the jobs lost during this recession aren't coming back. On average, the economists expect 25% of the jobs lost will need to be made up in new or different sectors.
The economists also expect GDP to grow at about 3% for the rest of the year--and don't see the 5.7% growth we saw last quarter continuing into 2010. Here's a look at the GDP trend as they see it (more interactive charts from the Journal are available here):

Economics Editor David Wessel joined the Journal's News Hub team to discuss the jobs data:
Read more about the survey here.
Posted
02-12-2010 11:37 AM
by
Graham Griffith